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6/29/16We are long the TBT 7/32 calls (short

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DashOver   Wednesday, 06/29/16 10:21:13 PM
Re: None
Post # of 19 
6/29/16

We are long the TBT 7/32 calls (short bonds, long rates ETF) and I've attached the chart of the long bond. on www.greatwizeoz.com blog...
The price chart shows me the following:

Momentum has turned down

OBV (on balance volume) has turned lower

Open Interest (number of open contracts) is declining showing liquidation of contracts owned

and there is a "Gann" 4-legged top in place

TBT chart shows an outside day (lower low and higher high closing near high and up on the day.....

I would liquidate this position if the bonds rally through todays high...Since the bond futures are
not readily available to all to see, I'd use todays low in the TBT @ $31.14. Resistance starts to show up at aroung $32.50-$33, but by that point we would own options worth $1.05-1.35 and would be subject to the 100% Up Rule since our average price is $ .62…


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